Some shares are still available for the development phase of the project.
The Company is seeking to raise the last £0.85m of tax efficient qualifying Enterprise Investment Scheme (EIS) shares, alongside £2.48m of non-EIS qualifying shares. There remains an opportunity for interested potential investors to back the final stage of the development phase of the UK’s largest tidal range power project to complete the necessary research, development and planning activities required to develop, construct and operate the world's first, purpose-built, tidal lagoon power plant, in Swansea Bay, South Wales.
Please click here to register for a copy of the Tidal Lagoon (Swansea Bay) plc Investor Memorandum and related documents. When doing so, please state your interest in our EIS or non EIS offer.
Proposal Overview & Vision
Tidal Energy, although not widely used, has potential for large scale electricity generation throughout the UK. Electricity provision in the UK is very much a focus nationally due to the decommissioning of fossil-fuelled power plants throughout the UK combined with rising energy costs. There is a need for alternative energy sources and the predictability and certainty of tidal power along with advancements in its associated technology has reduced its potential construction costs making tidal lagoons a realistic and viable option.
The UK is an ideal location to generate tidal lagoon power because it has one of the highest tidal ranges in the world and a number of shallow bays ideal for lagoon structures. This gives the UK a unique opportunity to create a new energy sector by developing a local supply chain for a minimum of 50% of the component parts needed for the building of Tidal Lagoon Swansea Bay and future tidal lagoon power projects. The UK would be the first country to develop a tidal lagoon industry.
Tidal lagoons offer long-term predictable electricity that is reliable and safe. It is estimated that the service life of a tidal lagoon is 120 years with limited decommissioning costs, tides will never run out and it is difficult to foresee a future with no demand for energy. In terms of government support, tidal lagoon power compares favourably with other forms of renewable energy and other types of energy production. Tidal Lagoon Power has the potential to provide the cheapest long term energy cost of all forms of energy generation.
Tidal Lagoon Swansea Bay is funded privately. Equity shareholders include members of the Swansea Bay community, Tidal Lagoon Power management, high net worth individuals and corporations. Tidal Lagoon Swansea Bay has already secured significant funding for the development stage of the project, including from local people. Tidal Lagoon Power is also exploring EU Grant funding options. During 2014 the project will be seeking finance for the construction phase – more details to follow.
The Project will provide a year round unique maritime and leisure themed amenity that will add to Swansea’s portfolio of ‘things to do and see’. The combination of facilities (visitor centre, walking, cycling trails, watersports), general landscape character, and unique vistas overlooking Swansea Bay and harbour area afforded by the seawall, suggest that the Project will have the capacity to be viewed as a visitor hub in its own right. Initial estimates suggest 100,000 people could visit the Lagoon each year. The visitor centre located offshore will showcase tidal range technology, thereby providing a key educational amenity that looks to encourage the growth and interest in renewable tidal technology industry in South Wales.